Seeking Alpha

Markel buys Virginia home builder

  • Markel (MKL) CIO Thomas Gayner ups his company's investment in housing with Markel Ventures acquiring Virginia's Eagle Construction for terms not yet disclosed. Eagle is a builder of single-family homes and also provides residential realty and commercial construction/realty services.
  • The deal is the 2nd investment Markel has made into Eagle's platform, the first being the 2010 Markel/Eagle JV for real estate management.
  • The Eagle investment is the 14th purchase of Markel Ventures. As is customary, management of the acquired company will remain in place.
  • Previous: Berkshire's HomeServices ups bet on housing with Prudential purchase.
  • Press release.
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